Since the 1920s, ammonium nitrate (AN) has been a famous fertilizer in the global market. It is a chemical compound which remains solid at standard pressures and room temperatures as well. Mainly used as a high-nitrogen fertilizer and also as an oxidizing agent in explosives, the use of ammonium nitrate in the production of fertilizers and explosive materials has significantly grown over the years and taken a major share of the organic chemicals market.
According to an in-depth study by a leading market research firm, the global ammonium nitrate market is anticipated to witness extensive growth in the coming years, especially in the Asia Pacific region. The rising consumer awareness regarding the benefits of ammonium nitrate is broadly spreading across agricultural-oriented countries such as Vietnam, India, Thailand, and China.
Global Ammonium Nitrate Market Boosted by Rising Demand in Agriculture Industry
The market is expected to grow significantly until 2019 owing to its widespread application as a fertilizer in the crop production. Ammonium nitrate (AN) is popular for its readiness to mix with the soil and hence, is used as a favorable crop fertilizer in the field of agriculture. Ammonium nitrate is also used for hay fertilization and pasture due to its less susceptibility towards volatilization losses in comparison with the urea-based fertilizers.
Ammonium nitrate is ideally mixed with many other fertilizers for application in the agriculture industry, whereby the mixture has the tendency to absorb the moisture if stored for a prolonged time. It is a solution for foliar sprays that enables the plant to absorb the necessary elements through their leaves.
Based on all such factors, ammonium nitrate is a great benefit to the agriculture industry and its widespread utilization is expected to grow across the globe during the next four years.
South Africa to Dominate the Ammonium Nitrate Market Owing to Presence of Mines and Quarry Operations
In earlier times, ammonium nitrate as a chemical was mined; however, currently it is synthetically manufactured through various chemical processes. Today, explosives are made from ammonium nitrate, which is further used for mining and quarrying operations. The product is also widely used in construction, coal mining, construction, as well as metal mining industries owing to its high-water resistance and detonation velocity properties.
By region, South Africa is expected to experience the highest demand for ammonium nitrate in the world due to the robust presence of metal mining base and many other quarrying and mining operations. Several intensive mining operations in South Africa are anticipated to promote new market opportunities for manufacturers in this region over the forecast period between 2015 and 2022.
Various Dynamic Factors Feeding the Growth of the Ammonium Nitrate Market
The growth of the global ammonium nitrate market is highly dependent on factors such as the shifting preference towards bio-based chemicals, the increasing demand for industrial explosives and blasting agents, as well as the rising consumption of ammonium nitrate at existing industrial facilities.
For sports personnel engaged in various sports activities, the use of ammonium nitrate is significant as this compound is incorporated into the instant cold packs, which are used as first aid solutions on sports injuries.